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Old 04-01-2013, 10:42 AM   #1
kkolbusz1
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need to sign an addendum...

who is asking for that-the broker or disney? and I'm assuming this doesn't necessarily mean we'll pass, but is Disney requesting this addendum or is the agency requesting this for the banked points?
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Old 04-01-2013, 10:54 AM   #2
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What addendum? The banked points can already be documented in the purchase agreement? Was there more change after the initial contract was signed? It seems unusual to ask for it now. What if you or the seller refuses to sign? Does that mean the deal breaks apart? Then it's an opportunity to escape from this transaction if there is a buyer / seller remorse. No?
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Old 04-01-2013, 11:11 AM   #3
kkolbusz1
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What addendum? The banked points can already be documented in the purchase agreement? Was there more change after the initial contract was signed? It seems unusual to ask for it now. What if you or the seller refuses to sign? Does that mean the deal breaks apart? Then it's an opportunity to escape from this transaction if there is a buyer / seller remorse. No?
the purchase was contingent upon the seller banking the 2012 points. the seller agreed that. the addendum came over today saying the next anniversary will have 286 pts, will exp 2014. I just wonder why one is coming over if it was done before hand and who is requesting it.
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Old 04-01-2013, 11:22 AM   #4
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I don't think there's any way for us to know who's requesting it - that's something that the broker/agent would be able to tell you. It sounds like it's specific to your situation.
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Old 04-01-2013, 11:24 AM   #5
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Originally Posted by kkolbusz1 View Post
the purchase was contingent upon the seller banking the 2012 points. the seller agreed that. the addendum came over today saying the next anniversary will have 286 pts, will exp 2014. I just wonder why one is coming over if it was done before hand and who is requesting it.
Did you sign the contract before they banked the points? We had to sign an addendum, but that was because something changed after we signed the original contract. The agent probably just needs to document the change. And you're right, it doesn't have anything to do with passing ROFR. Good luck though!
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Old 04-01-2013, 11:40 AM   #6
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Did you sign the contract before they banked the points? We had to sign an addendum, but that was because something changed after we signed the original contract. The agent probably just needs to document the change. And you're right, it doesn't have anything to do with passing ROFR. Good luck though!
It was our understanding that they were banking the points, whether they were done before or after idk. but that was the deal, that it would be done. it had to be done before april 30th otherwise we'd lose them.
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Old 04-01-2013, 12:51 PM   #7
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But my question is though, is Disney requesting the addendum?
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Old 04-01-2013, 12:53 PM   #8
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But my question is though, is Disney requesting the addendum?
Ask your broker.
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Old 04-01-2013, 12:56 PM   #9
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Originally Posted by kkolbusz1 View Post
who is asking for that-the broker or disney? and I'm assuming this doesn't necessarily mean we'll pass, but is Disney requesting this addendum or is the agency requesting this for the banked points?
I signed an addendum last week stating 2012 points had been banked- within 4-5 days I was ROFR'd. I think they are independent of each other but at the time was hoping the addendum was a good sign I would pass!
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Old 04-01-2013, 12:56 PM   #10
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Ask your broker.
yeah, she's a little slow getting back to me today. and I still haven't gotten my contract for our records. someone was out on leave & who knows when they were coming back but that was on the 22nd. thats when I got the formal letter saying here's your contract for your records. Oops. not attached. Yeah...
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Old 04-01-2013, 01:23 PM   #11
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If your contract didn't have the points listed as banked, then you'd need an addendum to show an accounting of what is actually in the contract you are buying. I had to sign one once. I believe it was then sent to Disney as an update but was told it didn't effect the ROFR timeline.
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Old 04-01-2013, 01:39 PM   #12
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If your contract didn't have the points listed as banked, then you'd need an addendum to show an accounting of what is actually in the contract you are buying. I had to sign one once. I believe it was then sent to Disney as an update but was told it didn't effect the ROFR timeline.
on the actual contract it said 136 points avail. next anniversary will have
150. So I take it they must've banked them after then?
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Old 04-01-2013, 01:41 PM   #13
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But my question is though, is Disney requesting the addendum?
I don't see how it makes any difference, but Michael's answer above is the only correct answer -- "Ask your broker." Anything else is guesswork and speculation.

The real question is whether or not the end result of the points is what you initially agreed to...or not.

If it's right, why would you not sign the addendum?

If it's wrong, why would you sign it?
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Old 04-01-2013, 02:07 PM   #14
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Quote:
Originally Posted by kkolbusz1 View Post

on the actual contract it said 136 points avail. next anniversary will have
150. So I take it they must've banked them after then?
It appears that way and thus most likely the reason for the addendum..to make sure all the paperwork jives with what you are buying.

Keep trying the broker so you have a confirmation from them.
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